Anil Singhvis Market Strategy June 13: Market trend positive; TCS is stock of the day
Trump-Kim historic summit in Singapores Sentosa island had a positive impact on the global as well as Indian markets. On Tuesday, i.e. June 12, 2018, the Indian market ended in green as S&P BSE Sensex closed 209.05 points (0.59%) high at 35,692.52 and NIFTY 50 went up by 55.90 points (0.52%) to close at 10,842.85.
Trump-Kim historic summit in Singapore’s Sentosa island had a positive impact on the global as well as Indian markets. On Tuesday, i.e. June 12, 2018, the Indian market ended in green as S&P BSE Sensex closed 209.05 points (0.59%) high at 35,692.52 and NIFTY 50 went up by 55.90 points (0.52%) to close at 10,842.85.
However, positive Domestic Institutional Investors (DIIs) and Future and Options (F&O), neutral global and negative foreign institutional investors (FII) cues, hint that the short term trend of the Indian market is going to stay positive on June 13, 2018. When it comes to sentiments, the traders are suggested to remain cautious while investing in the market today.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 13:
10,800 and 26,500 are going to be the deciding levels at Nifty and BankNifty today.
In case of Nifty, 10,800-10,900 is going to be the small trading range today, while 10,765-10,925 will be the bigger range for trade.
When it comes to BankNifty, the small trade range stands at 26,450-26,750 and the bigger range will be between 26,350-26,900.
The next strong support zones in Nifty and BankNifty for June 13 stands at 10,750-10,775 and 26,350-26,450 respectively.
10,900-10,925 and 26,900-26,950 are going to be the perfect profit booking zone at Nifty and BankNifty.
Anil Singhvi suggests that traders reduce their buying positions on Nifty and BankNifty if they close below the mark of 10,750 and 26,450 respectively.
Buy and Sell strategy on Nifty
Buy Nifty with a stop loss of 10,765 and a target of 10,850-10,890-10,920.
Sell Nifty above 10,900 with a stop loss of 10,950 and a target of 10,850-10,825.
Buy and Sell strategy on BankNifty
Buy BankNifty with a stop loss of 26,450 and a target of 26,750-26,850.
Sell BankNifty near 26,900 with a stop loss of 27,000 and a target of 26,750.
The put-call ratio (PCR) for today stands at 1.54 and volatility index (VIX) is 13.70.
IT and Pharma sectors are going to be positive and traders can plan to do positional trade in the sector.
Enters F&O Ban: Just Dial
3 Already In Ban: Dewan Housing Finance Corporation Limited (DHFL), Balrampur Chini and Jet Airways.
Watch this Zee Business video here:
Stock of the Day: TCS
Appx. Buyback Size: Rs.10,000 to Rs.12,500 Cr.
Appx. Buyback Size: 1.5 to 2% of the equity
Appx. Buyback Price: Rs. 1975 to 2025
Appx. Acceptance ratio: 60 to 75%
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